Re: [May 2024] Fees are low, use this opportunity to Consolidate your small inputs
⭐ Merited by TheBeardedBaby (1)
Satoshi also envisioned the blockchain to grow by 100 GB per day, because that'd equate to "just the size of 12 DVD"
That doesn't sound so bad at all:Long before the network gets anywhere near as large as that, it would be safe
for users to use Simplified Payment Verification (section
to check for
double spending, which only requires having the chain of block headers, or
about 12KB per day. Only people trying to create new coins would need to run
network nodes. At first, most users would run network nodes, but as the
network grows beyond a certain point, it would be left more and more to
specialists with server farms of specialized hardware. A server farm would
only need to have one node on the network and the rest of the LAN connects with
that one node.
~
Satoshi Nakamoto
for users to use Simplified Payment Verification (section
to check for double spending, which only requires having the chain of block headers, or
about 12KB per day. Only people trying to create new coins would need to run
network nodes. At first, most users would run network nodes, but as the
network grows beyond a certain point, it would be left more and more to
specialists with server farms of specialized hardware. A server farm would
only need to have one node on the network and the rest of the LAN connects with
that one node.
~
Satoshi Nakamoto
completely ignoring the bottleneck in verification. He believed that the blockchain should be accessible only by server farms that generate new coins, everybody else should opt-in to SPV.
Many Bitcoin users, including hardware wallet users, already rely on third party nodes by using a SPV wallet. If I have to choose between 1) a user keeping their coins on an exchange or using custodial LN and 2) a user keeping their Bitcoin in a SPV wallet that relies on several large server farms, the latter sounds more decentralized.Let's be realistic: there are 18,500 full nodes, and depending on which source you believe, 50 to 219 million Bitcoin owners. There are only 52.5 million funded Bitcoin addresses. Even if we take the lower number of Bitcoin owners, less than 0.05% of them run a full node.
Quote
you expect a network with a well-defined and nonaligned with your preferences roadmap to adapt to your needs.
I think a lot of Bitcoin users expect Bitcoin to scale at some point.